agency mergers and acquisitions News

Broad Insurance Group Buys Florida’s Hartselle Agency

Broad Insurance Group (BIG) said it has acquired Art Hartselle Agency Inc., a Seminole, Fla. based commercial and personal lines property/casualty insurance agency. The company said that Robert Southard, a Florida native and insurance executive, is being brought on as …

All Risks Acquires Sports, Entertainment Broker Alive Risk from NAS

Independent national wholesale broker All Risks Ltd. said it has acquired Alive Risk, a division of California-based NAS Insurance Services that specializes in entertainment, media, special events, film productions and sports accounts. Terms of the transaction were not disclosed. Alive …

THL Private Equity, 2 Beecher Carlson Ex-Execs to Build Distribution Firm

Private equity firm Thomas H. Lee Partners (THL) has teamed with two former Beecher Carlson executives and will invest up to $200 million to build a national insurance distribution firm. Bret Quigley and Adam Meyerowitz and the Boston-based private equity …

How Policies Respond When Buying or Selling an Agency

It’s rare to read an industry magazine or attend an industry conference without the topic of mergers and acquisitions coming up. The issues addressed typically include the cost of acquisitions, tax implications, systems matters, when a consultant is needed and …

Agency M&A in 2013 Reverted to Norm After Busy 2012: OPTIS Partners

Mergers and acquisitions of insurance agencies fell in 2013, with 248 reported transactions in the United States and Canada, according to a new semi-annual survey by OPTIS Partners, an investment banking and financial consulting firm specializing in the insurance industry. …

AssuredPartners Enters West Virginia, Acquiring Commercial Insurance Services

Florida-based AssuredPartners Inc. said it has completed the acquisition of Commercial Insurance Services through its newly formed operation AssuredPartners of West Virginia. Terms were not disclosed. The Commercial Insurance Services transaction marks the first platform acquisition for AssuredPartners in West …

Wells Fargo Selling 42 Smaller Regional Insurance Offices to USI

Wells Fargo & Co., the largest U.S. home lender, has agreed to sell more than 40 percent of its insurance brokerage locations to focus bricks-and-mortar operations on higher-growth regions and bigger clients. USI Insurance Services will purchase 42 of Wells …

MarshBerry Survey Reveals an Optimistic Marketplace: Part 1

In June of this year, MarshBerry launched its 28th Annual Market & Financial Outlook Survey in conjunction with Insurance Journal. The survey compiled anonymous general independent agency information along with financial, market, carrier and technology data. Initial data shows that …

Agency M&A Advisory Firm Sees ‘Lack of Quality Acquisition Opportunities’

A mergers and acquisitions advisory firm focusing on the insurance agency sector says it is hearing more this year about “a lack of quality acquisition opportunities,” which could lead to fewer deals this year compared to 2012. MidCap Advisors, a …